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American Decline To Accelerate?

This is off topic: I have a number of American friends who are Republicans. For years they have berated Obama for a lack of leadership. They consider him arrogant yet ineffectual. They blame him for what they perceive as a decline in the power and prestige of America. This is twaddle. But it is commonplace. […]

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DSGE Is a Plutocratic Tool

Hah! That caught your attention. People who criticize General Equilibrium – henceforth GE – often fail to mention one of its major benefits to mainstream economists, one that explains its tenacity despite its obvious irrelevance as a real economic artifact. This is that it is a weapon that allows economists to expunge politics from their […]

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Mind the Gap

I wonder when economics will reconnect with modern thought. I wonder, for instance, when economics will take on board contemporary theories about real human behavior and jettison its antiquated and utterly unreal notions of rationality. Not that I will hold my breath. One of the great planks of orthodox economics is its odd fascination with rationality. It […]

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